Keep Bailing
Bailouts for big banks and Wall Street firms. Bailouts for car companies and the United Auto Workers. Proposed bailouts for union pension funds. And now this -- a massive $26 billion bailout for state government and teacher's unions. Not only is the country on its way to bankruptcy but it appears the moral bankruptcy of this Congress has already come. The Wall Street Journal takes on the latest bailout head-on: To treat Washington's spending addiction, the November elections are the taxpayer's best chance to stage an intervention. But until then, President Obama and the Democratic Congress are determined to keep pushing strung-out state governments to take one more fix. Witness yesterday's 247-161 largely party-line House vote to approve a Senate bill shovelling another $26.1 billion out to state education and Medicaid programs. The White House has promoted the bill as emergency assistance for strained state budgets. But this unique brand of therapy drives states to spend more, not less. The "assistance" is so expensive that several governors were begging for relief even before Mr. Obama